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Intel Cuts over 12,000 jobs Globally

Intel Cuts over 12,000 jobs Globally

Intel Cuts over 12,000 jobs Globally

Intel Cuts over 12,000 jobs Globally

 

Intel has just announced that they will be letting go of around 11% of their Global Workforce, a move that will be leaving 12,000 employees out of work and cost intel $1.2 billion in restructuring costs.  

The company states that they are looking to accelerate their growth in the Cloud computing markets and power more "connected computing devices", meaning that their primary focus may be shifting from the traditional desktop market. 

These layoffs will take place over the next 12 months. Right now shares of the company have dropped 2.5% in after trading hours on Wall Street. 

 

Intel Cuts over 12,000 jobs Globally  

In the future, Intel sees their growth in the Datacenter markets and in the Internet of things, with these businesses delivering over $2.2 billion of revenue growth in the last year.

Intel expects their cuts to save the company $750 million this year and save them 1.4 Billion every year from mid-2017 onwards.

This news comes not long after Intel officially dropped their Tick, Tock release model for CPUs, which will see Intel release 3 CPU generations on a single processing node rather than two, hinting that Intel may no longer be willing to pay the high costs of producing smaller and more efficient processing technology every two years. 

 

You can join the discussion on Intel laying off over 12,000 workers on the OC3D Forums

 

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Most Recent Comments

19-04-2016, 17:45:57

NeverBackDown
Always sucks to hear massive layoffs. Hopefully Intel can help them find a new one or compensate them nicelyQuote

19-04-2016, 17:47:45

Kushiro
Well if past lauoffs are anything to go by. The compensation will be fair.

Doesnt go in depth to what kind of employees they are retiring thoughQuote

19-04-2016, 17:54:15

WYP
Quote:
Originally Posted by Kushiro View Post
Well if past lauoffs are anything to go by. The compensation will be fair.

Doesnt go in depth to what kind of employees they are retiring though
You can't cut 11% and not affect everything. Intel is big, but 11% of the workforce is MAJOR.

My bet is a lot of the Fab guys are getting laid off, as Intel don't want to pay for the bleeding edge manufacturing tech anymore.Quote

20-04-2016, 00:55:33

NeverBackDown
Quote:
Originally Posted by WYP View Post
You can't cut 11% and not affect everything. Intel is big, but 11% of the workforce is MAJOR.

My bet is a lot of the Fab guys are getting laid off, as Intel don't want to pay for the bleeding edge manufacturing tech anymore.
Idk about Fab people.. I mean obviously every department is getting some part of the layoffs. However I don't think FAB guys(or girls) would take the biggest hit. The markets they are going after really are the 2 things that make Intel LOADS of money, so much so that there other markets that lost money, still wasn't enough to overcome the amount of revenue that Server/Database and IOT obtained. Those markets rely on bleeding edge, so it's probably other areas tbh. Like conslidating the PC consumer departments, instead of separate engineers for mainstream/professional. Just make it one team. Who knows what else was laid off. Probably some workers from the Altera acquisition and/or other companies they have bought as well.Quote

20-04-2016, 07:53:55

Warchild
yes but people need to realize that they will cut 12000 current jobs, and "restructure". This restructuring can open the doors to new positions and departments. We rarely hear "Intel takes on XXXX jobs" since it doesn't make news.

It would be nice to see those losing their position taken on elsewhere within the company, or snapped up by AMD, Nvidia or ARM Holdings

Since Intel want to focus now on the Internet of Things, this will mean new departments and goals to be set up.Quote
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